578 Wilkes Ln #245Richmond HeightsOH44143
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Richmond Heights at 578 Wilkes Ln #245, Richmond Heights, OH, 44143 uses $48,068 cash to close to unlock $2,111/yr annual cash flow and $176/mo monthly cash flow. Total monthly income runs $1,130/mo, and a $710/mo payment keeps the spread at $176/mo. Purchase price stands at $145,000, and rental yield measures 9.35% with $1,130/mo rent. Return on cash invested shows 24.3% in year one, and 5% annual appreciation builds toward $40,061 over five years. Five-year ROI reaches 126.91% and total cumulative return in cash records $61,004. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,130/mo property income covering a $710/mo payment rather than investor’s personal income.
Condo
Built in 1977
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44143, Cleveland, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,192 (100%) |
| Owner Occupied HU | 7,818 (69.9%) |
| Renter Occupied HU | 2,471 (22.1%) |
| Vacant Housing Units | 903 ( 8.1%) |
| Median Home Value | $280,301 |
| Average Home Value | $312,811 |
Housing Distribution
Address Breakdown
Residential
11,225
Single Family
9,001
Multi-Family
2,224
Businesses
724
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Listed by: Nicole R Guizzotti • EXP Realty, LLC.
Mls Name: MLS Now
Mls ID: #5119972